CPA Canada model financial statements — IFRS

Model Financial Statements — IFRS takes into account the standards in Part I of the CPA Canada Handbook – Accounting for publicly accountable enterprises. It will help you prepare consistent financial statements that reflect the standards.

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Model Financial Statements — IFRS is designed to assist publicly accountable enterprises implement IFRS and comply with their financial reporting obligations.

These IFRS model financial statements take into account the standards in Part I of the Handbook – Accounting for publicly accountable enterprises.

FOUR MODELS ARE INCLUDED IN THESE FINANCIAL STATEMENTS:

  • the first model was prepared for entities that already apply IFRS
  • the second model illustrates first-time adoption of IFRS including a reconciliation of opening balances required under IFRS 1 First-time Adoption of International Financial Reporting Standards, Handbook – Accounting, Part I
  • the third presents financial statements on an individual basis (non-consolidated)
  • the fourth model presents consolidated interim financial statements and presents a version of financial statements in compliance with IFRS for an entity dealing with less complex operations

Model Financial Statements — IFRS ialso includes appropriate references to Part I of the CPA Canada Handbook – Accounting relating to significant items and note disclosures. Whether you are in public practice or business/industry, these model financial statements will make your work much easier.

Because each engagement is unique, Model Financial Statements – IFRS online version includes access to sample financial statements, on Knotia.ca in Word and PDF format, that allows you to create statements to meet the needs of your clients and your business